Press Release - October 1, 2002

TaxACT Free Software Makes it Easy to Prepare Your Own Taxes!

Cedar Rapids, IA – For five years running, 2nd Story Software Inc. has provided full-featured tax preparation software free of charge to consumers as a way to familiarize the public with the simple process of doing taxes on the computer. On October first, they announced the release of the 2002 preview version of their popular TaxACT Standard Edition software. As with the final version, the preview version is completely free, available for download at www.taxact.com.

"Aside from the fact that it's free, what's nice about the 2002 preview version is that it gives you a chance to enjoy the TaxACT software right away," says Lance Dunn, President of 2nd Story Software. "That means you can begin planning and preparing your 2002 return without waiting for the final version to release." He adds that when the final version releases in January 2003, you can download it knowing that your tax data will safely transfer over.

"TaxACT is so easy to use because the software ‘interviews' you, then automatically enters your data into the correct tax form as you go," explains Dunn. The Standard Edition includes the most commonly used forms and schedules, and it incorporates the most up-to-date tax laws and calculations, so you can be confident your return meets I.R.S. requirements. "Best of all," adds Dunn, "the software audits your return to make sure it's accurate and error-free."

When you're ready to file, you simply print your return onto plain white paper, without the hassle of hunting down the right pre-printed tax form. "Unlike other tax software that charges a fee each time you print a return," says Dunn, "TaxACT Standard Edition lets you do all that without spending any money."

Another great feature of the TaxACT software is that you have the option to electronically file your return. The low $7.95 e-file charge makes TaxACT among the best-priced e-file services in the industry.

"E-filing is quickly becoming the preferred method of tax filing because it's so convenient," says Ron Jorgensen, CPA. "And, you get your refund sooner with e-filing—in as few as ten days if you use direct deposit."

Jorgensen adds that even if you owe money to the government, "e-filing is the way to go. You can e-file right away without immediately paying your tax debt. In fact, when you e-file, you can schedule a direct debit payment for as late as April 15, 2003."

"One of our purposes in creating the TaxACT software series was to make e-filing easy," says Dunn. "The software guides users step-by-step through the e-file process. They're kept abreast of the status of their return through e-mail and web updates."

For those of you with more complex tax situations, TaxACT is available in a Deluxe Edition. The low price of $9.95 includes one free federal e-file, the early-release 2002 preview version of TaxACT Deluxe and the 2002 final version. Deluxe offers more than 110 forms, schedules, and worksheets, advanced tax calculators, and more. Also, TaxACT State Editions are available for $12.95 each. State Editions are compatible with both TaxACT Standard and TaxACT Deluxe, and you can get a State Edition for any state that assesses state income tax. Visit www.taxact.com for more information or to download your software.